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Chemicals maker Anupam Rasayan India Ltd on Saturday posted a 44.26 per cent fall in its consolidated net profit to Rs 40.46 crore for the fourth quarter of 2023-24 on poor sales.
Its net profit stood at Rs 72.63 crore a year earlier.
The total income fell to Rs 413 crore in the January-March quarter of 2023-24 compared to Rs 504.2 crore in the year-ago period, a regulatory filing said.
For the full fiscal 2023-24, Anupam Rasayan posted a 23 per cent drop in consolidated net profit to Rs 167.4 crore against Rs 216.8 crore in the previous fiscal.
The total income declined to Rs 1,505.3 crore from Rs 1,610.4 crore in the said period.
Anupam Rasayan Managing Director Anand Desai said the chemical industry, including speciality chemicals, has faced significant headwinds during the last year. However, despite the de-growth in the top line, the company has been able to sustain its profitability and maintain margins at 27 per cent levels on a full-year consolidated basis.
"We believe that headwinds in the industry may continue for the next two quarters. However, the financial year 2025 will be a year of growth for us with our major focus on polymer and pharmaceutical space," he added.
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